An emerging report from the National Bureau of Statistics (NBS) states that Nigeria’s unemployment rate dropped to 4.1 per cent in the first quarter of 2023.
The unemployment rate stood at 33.3 per cent in the last report of the NBS released as of the fourth quarter of 2020.
The last survey was conducted using the 13th ICLS, birthed and adopted in 1982 at the International Conference of Labour Statisticians.
During the launch of the new methodology in Abuja on Thursday, August 24, NBS’ boss, Adeyemi Adeniran, said the latest figure brings Nigeria’s Labour Survey in tandem with international standards.
Adeniran stated that the survey was conducted in collaboration with the World Bank and the International Labour Organisation and has been adopted by 26 African countries.
He added that the figure for the fourth quarter 2022 was 5.3 per cent.